TODAY'S TOP STORIES

Share SHARE

osisko-acquisition-041614.jpg Canadian gold miners Agnico Eagle Mines Ltd. and Yamana Gold, Inc. agreed Wednesday to jointly acquire smaller peer Osisko Mining Corp. for C$8.15 per share in a cash and stock deal valued at about C$3.9 billion. Agnico Eagle and Yamana Gold will split Osisko down the middle, and share the coveted Canadian Malartic Mine in Québec.The deal is expected to close by early June 2014.

CITIC-acquisition-041614.jpg Hong Kong-listed Citic Pacific Ltd. said Wednesday that it has agreed to buy the main operating unit of its Chinese state-owned parent company Citic Group Corp. for RMB226.93 billion, or $36.5 billion, in cash and stock. Citic Pacific noted that the deal will provide its shareholders with direct exposure to one of China's largest, multi-industry conglomerates and also enlarge its capital base.

wallstreet4-103112_16Apr14.jpg Stocks have moved mostly higher in early trading on Wednesday, adding to the gains posted in the two previous sessions. The major averages have all moved to the upside, although buying interest has waned since the open.

indusproduction-041614.jpg Industrial production in the U.S. rose by more than expected in the month of March, the Federal Reserve revealed in a report on Wednesday, with the report also showing a notable upward revision to the pace of production growth in the previous month. The report said industrial production increased by 0.7 percent in March after surging up by an upwardly revised 1.2 percent in February.

HousingStarts-041614.jpg Housing starts in the U.S. showed a notable increase in the month of March, according to a report released by the Commerce Department on Wednesday, although starts still came in well below economist estimates. The report showed that housing starts climbed 2.8 percent to an annual rate of 946,000 in March from the revised February estimate of 920,000.

JohnsonControls-041614.jpg Auto parts supplier Johnson Controls, Inc. agreed Wednesday to acquire Air Distribution Technologies, Inc. from its owner Canada Pension Plan Investment Board or CPPIB, for about $1.6 billion in a bid to expand its buildings business. The deal, which is subject to limited conditions, is expected to close by the end of July.

AbbottLaboratories-041614.jpg Diversified healthcare company Abbott Laboratories on Wednesday reported a 31 percent decline in profit for the first quarter from last year, reflecting lower sales and one-time charges. However, ongoing earnings per share beat analysts' estimates, while sales missed their expectations. Looking ahead, the company maintained its ongoing earnings outlook for fiscal 2014, in line with Street view.

BankofAmerica-041614.jpg Financial services giant Bank of America Corp. Wednesday reported a loss for the first quarter compared to a profit last year, reflecting mainly $6 billion in litigation expense. Net interest income declined, but the firm posted lower provision for credit losses.

Wallstreet3-111212_16Apr14.jpg After moving mostly higher over the course of the two previous sessions, stocks may see some further upside in early trading on Wednesday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 63 points.

StJudeMedical-041614.jpg Cardiovascular medical devices maker St. Jude Medical, Inc. reported Wednesday a profit for the first quarter that increased from last year, reflecting lower charges and sales growth. Adjusted earnings per share topped analysts' expectations by a penny, while quarterly revenues matched their estimates. The company also provided guidance for the second quarter and raised full-year outlook.

PNC-041614.jpg Lenders PNC Financial Services Group Inc. (PNC) and U.S. Bancorp (USB) Wednesday reported financial results for the first quarter. For PNC, profit increased amid loan and deposit growth, well-controlled expenses and credit quality improvement as well as seasonal trends. As for U.S. Bancorp, profit dropped along with a decline in revenues. Mortgage banking revenue declined for both lenders.

Ukunemployment-041614.jpg The U.K. unemployment rate fell below the 7 percent threshold to a five-year low in February and average earnings finally moved above inflation reducing the squeeze on household finances. The jobless rate came in at 6.9 percent of the labor force, the lowest since February 2009, data from the Office for National Statistics showed Wednesday.

wallstreet-041012_16Apr14.jpg Trading in the U.S. index futures suggest that Wall Street stocks may extend their gains on Wednesday, with the major U.S. index futures pointing to a moderately higher opening. Earlier in the global trading day, Asian stocks rallied on positive Wall Street cues and stimulus hope after China reported...

Tesco-041614.jpg Tesco Plc's shares increased around 4 percent in the morning trade in London after the British supermarket chain posted Wednesday a higher profit in its fiscal year 2014, benefited by lower charges and a slight increase in sales. Group trading profit, meanwhile, declined 6 percent due to a weakening UK grocery market and challenging trading conditions mainly in Europe.

Danone-041614.jpg French diary giant Danone SA Wednesday reported a 5.2 percent decline in the first-quarter sales, reflecting unfavorable foreign exchange effects. Sales, however, showed an organic growth of 2.2 percent. The company also backed its full-year 2014 outlook.